No, I would not. I make full use of the f/2.8 on my 70-200 VR II. Amazing lens. Let's see what the test results are for this lens. It's a Nikkor lens, so I'm sure it won't be any slouch; it may even be better in terms of overall IQ than the VR II. Also, VR III (on this lens) claims to give 5 stop advantage!!! I have no doubts it will be a good (possibly great) lens, but if someone already has the VR-II, I don't know if it makes a lot of sense to replace it with this one.

The lens is about $1000 less than the f2.8; which is a good/great price for getting the latest Nikkor technology, but one has to carefully consider why $1000 less. It's a relatively good price differential. There are reasons for that (f2.8 vs f4) alone would account for the difference. The IQ may be same or better on the newer lens, but it's that damn f2.8 folks.

And what's with the 67mm filter size???

People will have varying reasons for getting the f/4, but the price cannot be ignored.

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